New Risk • 17h
New major risk - Revenue and earnings growth Earnings have declined by 1.1% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 1.1% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (1.58m market cap, or US$12.3m). Board Change • May 20
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 8 non-independent directors. CEO & Director Vimbayi Nyakudya was the last director to join the board, commencing their role in 2024. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. 공시 • Jan 21
CAFCA Limited, Annual General Meeting, Feb 19, 2026 CAFCA Limited, Annual General Meeting, Feb 19, 2026, at 12:00 South Africa Standard Time. Location: cafca ltd, 54 lytton road, workington harare, Zimbabwe Board Change • Dec 19
No independent directors There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 4 experienced directors. 3 highly experienced directors. No independent directors (8 non-independent directors). CEO & Director Vimbayi Nyakudya was the last director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Oct 10
No independent directors There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 4 experienced directors. 3 highly experienced directors. No independent directors (8 non-independent directors). CEO & Director Vimbayi Nyakudya was the last director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Sep 12
No independent directors There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 4 experienced directors. 3 highly experienced directors. No independent directors (8 non-independent directors). CEO & Director Vimbayi Nyakudya was the last director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. 공시 • Jan 22
CAFCA Limited, Annual General Meeting, Feb 20, 2025 CAFCA Limited, Annual General Meeting, Feb 20, 2025, at 12:00 South Africa Standard Time. Location: cafca ltd, 54 lytton road, workington harare, harare Zimbabwe Upcoming Dividend • Jan 01
Upcoming dividend of US$0.049 per share Eligible shareholders must have bought the stock before 08 January 2025. Payment date: 24 January 2025. Trailing yield: 39%. Within top quartile of dividend payers (7.5%). Higher than average of industry peers (0.9%). Board Change • Dec 31
No independent directors There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 4 experienced directors. 3 highly experienced directors. No independent directors (8 non-independent directors). CEO & Director Vimbayi Nyakudya was the last director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. New Risk • Nov 17
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended March 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (Z$2.26b market cap, or US$7.01m). Minor Risks Latest financial reports are more than 6 months old (reported March 2024 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Board Change • May 01
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 4 highly experienced directors. No independent directors (8 non-independent directors). Non-Executive Director Simba Mangwengwende was the last director to join the board, commencing their role in 2006. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Jan 15
Full year 2023 earnings released: EPS: Z$1,520 (vs Z$232 in FY 2022) Full year 2023 results: EPS: Z$1,520 (up from Z$232 in FY 2022). Revenue: Z$164.0b (up 119% from FY 2022). Net income: Z$51.3b (up Z$43.5b from FY 2022). Profit margin: 31% (up from 10% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 136% per year but the company’s share price has increased by 273% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Nov 22
Upcoming dividend of US$0.079 per share Eligible shareholders must have bought the stock before 29 November 2023. Payment date: 15 December 2023. Payout ratio is a comfortable 15% but the company is paying out more than the cash it is generating. Trailing yield: 102%. Within top quartile of dividend payers (8.3%). Higher than average of industry peers (1.7%). New Risk • Nov 19
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 135% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (135% accrual ratio). Market cap is less than US$10m (Z$767.3m market cap, or US$2.38m). Minor Risk Dividend is not well covered by cash flows (dividend per share is over 14x cash flows per share). Reported Earnings • Nov 19
Full year 2023 earnings released: EPS: Z$1,520 (vs Z$66.08 in FY 2022) Full year 2023 results: EPS: Z$1,520 (up from Z$66.08 in FY 2022). Revenue: Z$164.0b (up Z$142.7b from FY 2022). Net income: Z$51.3b (up Z$49.1b from FY 2022). Profit margin: 31% (up from 10% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 144% per year but the company’s share price has increased by 230% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Jun 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Zimbabwean stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (Z$749.7m market cap, or US$2.32m). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (12% average weekly change). Reported Earnings • Dec 23
Full year 2022 earnings released: EPS: Z$66.08 (vs Z$7.85 loss in FY 2021) Full year 2022 results: EPS: Z$66.08 (up from Z$7.85 loss in FY 2021). Revenue: Z$21.3b (up 440% from FY 2021). Net income: Z$2.22b (up Z$2.48b from FY 2021). Profit margin: 10% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has increased by 383% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Nov 30
Upcoming dividend of Z$23.00 per share Eligible shareholders must have bought the stock before 07 December 2022. Payment date: 20 December 2022. Trailing yield: 97%. Within top quartile of dividend payers (8.8%). Higher than average of industry peers (4.4%). Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 6 highly experienced directors. No independent directors (7 non-independent directors). Non-Executive Director Gideon Johannes Steyn was the last director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Oct 05
Investor sentiment improved over the past week After last week's 18% share price gain to Z$200, the stock trades at a trailing P/E ratio of 5.6x. Average trailing P/E is 8x in the Electrical industry in Africa. Total returns to shareholders of 12,400% over the past three years. Valuation Update With 7 Day Price Move • Aug 19
Investor sentiment deteriorated over the past week After last week's 15% share price decline to Z$200, the stock trades at a trailing P/E ratio of 5.9x. Average trailing P/E is 7x in the Electrical industry in Africa. Total returns to shareholders of 15,167% over the past three years. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 6 highly experienced directors. No independent directors (7 non-independent directors). Non-Executive Director Gideon Johannes Steyn was the last director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Nov 26
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: Z$7.85 loss per share (down from Z$21.25 profit in FY 2020). Revenue: Z$3.95b (up 60% from FY 2020). Net loss: Z$262.2m (down 137% from profit in FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has increased by 448% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jul 12
Investor sentiment improved over the past week After last week's 20% share price gain to Z$150, the stock trades at a trailing P/E ratio of 3.8x. Average trailing P/E is 10x in the Electrical industry in Africa. Total returns to shareholders of 26,575% over the past three years. Valuation Update With 7 Day Price Move • Jun 17
Investor sentiment deteriorated over the past week After last week's 17% share price decline to Z$125, the stock trades at a trailing P/E ratio of 3.9x. Average trailing P/E is 10x in the Electrical industry in Africa. Total returns to shareholders of 22,129% over the past three years. Is New 90 Day High Low • Feb 11
New 90-day high: Z$96.00 The company is up 57% from its price of Z$61.00 on 13 November 2020. The Zimbabwean market is up 216% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Electrical industry, which is up 20% over the same period. Is New 90 Day High Low • Jan 12
New 90-day high: Z$90.00 The company is up 48% from its price of Z$61.00 on 14 October 2020. The Zimbabwean market is up 35% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is up 27% over the same period. Is New 90 Day High Low • Dec 18
New 90-day high: Z$85.00 The company is up 39% from its price of Z$61.00 on 18 September 2020. The Zimbabwean market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is up 22% over the same period. Is New 90 Day High Low • Dec 01
New 90-day high: Z$73.25 The company is up 20% from its price of Z$61.00 on 02 September 2020. The Zimbabwean market is up 4.0% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Electrical industry, which is also up 20% over the same period. 
